Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Can Jennie break the K-pop solo artist slump?
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Yoon set for talks with Marcos in Philippines
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Ex-president's daughter investigated for drunk driving accident
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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'Culinary Class Wars' producers deny trying to spice up results
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First lady’s Dior bag scandal to be at center of Assembly audit
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Seoulites celebrate coexistence at Wellness Seoul 2024
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Korean COVID-19 drug developments hasten overseas
South Korean companies developing COVID-19 treatments overseas are one after another announcing how their endeavors are progressing. On Monday, NeoImmuneTech said it finished administering its NT-I7, an interleukin-7 pipeline stabilized with a patented technology, on lightly affected COVID-19 patients in the US. The company has yet to derive a result from the test, but NT-I7 was previously demonstrated as safe and efficacious in cancer patients by creating new lymphocytes. Lymphocytes
Nov. 30, 2020
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Innovative companies awarded at KGCCI ceremony
The Korean-German Chamber of Commerce and Industry held its 6th KGCCI Innovation Awards ceremony Friday in Seoul in a toned-down setting to comply with Level 2 social distancing rules and safety measures, the KGCCI said Monday. The KGCCI Innovation Awards were initiated in 2015 with the purpose of showcasing innovative products, technologies and business strategies of Korean and German companies. The event was held in a hybrid format and livestreamed due to the prolonged COVID-19 situation.
Nov. 30, 2020
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HMM dispatches new vessel to help small exporters to US market
Shipping company HMM said on Monday that it is dispatching a fifth vessel for the US West Coast sea lane in an “emergency move” to help South Korean exporters to the US market. The 4600-twenty-foot-equivalent-unit container vessel named Integral will depart from the Port of Busan on Monday evening and head to Los Angeles, the company said. HMM said nearly 64 percent of the vessel’s shipping capacity is products from small and medium-sized enterprises, including air purifiers
Nov. 30, 2020
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Foreign firms say biz environment deteriorated over past 3 years
Foreign-invested companies rated South Korea’s business environment as excellent overall, but were unsatisfied with the labor environment and the passive attitude of the authorities, survey showed Monday. The Federation of Korean Industries conducted a survey for trade and investment officers as well as foreign economic organizations of the top 50 foreign investment countries in Korea about the business environment in the nation. The survey took place from Oct. 12 to Nov. 6. While givi
Nov. 30, 2020
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Celltrion cautious against COVID-19 spread as treatment nears approval
Celltrion, located in Songdo, Incheon, is being extra vigilant against the sudden spike of COVID-19 patients in the city, as it awaits conditional approval of its antibody treatment, according to a person familiar with the matter, Monday. “Employees at Celltrion are now advised to take their work laptops home with them every day, so that in the case we become confirmed patients, we can immediately work from home under quarantine,” a Celltrion employee told The Korea Herald under the
Nov. 30, 2020
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[Monitor] Added value of manufacturing and mining industries drops 1.4%
The overall added value of South Korea’s mining and manufacturing industries suffered a 1.4 percent year-on-year drop last year, the sharpest drop since 1998 following the Asian financial crisis, according to the latest data from Statistics Korea. A tentative annual report released on Friday estimated the industry’s added value was worth 559.8 trillion won. Though the medicine, grocery, electric devices and automobile sectors enjoyed a bump in added value, sectors such as mechanic
Nov. 30, 2020
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2nd phase clinical trial of S. Korean drug firm's COVID-19 treatment candidate approved in US
South Korean drug firm GeneOne Life Science Inc. said Monday it has won approval to conduct a second phase clinical trial of its treatment candidate for the novel coronavirus in the United States. The US Food and Drug Administration (FDA) have approved a phase two study of GLS-1027, an oral drug candidate known to prevent severe pneumonia caused by COVID-19 infection. The candidate will be administered to 132 adult COVID-19 patients from the moment of their infection to evaluate the efficacy o
Nov. 30, 2020
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[Herald Interview] ‘Forestry crucial for healthy, sustainable future of humanity’
Environmental degradation has become one of the greatest threats to humankind over the past decades. For one, the world is suffering from worsening air pollution, which is linked to deforestation, and the large forest fires that threaten the lives of millions worldwide. Forestry is imperative for a healthy and sustainable future of humanity. As the world is suffering from the COVID-19 pandemic, experts also believe that deforestation is closely linked to the crisis and that forests can
Nov. 29, 2020
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Can LG Energy Solution, SK Innovation ITC suit be delayed 3rd time?
As South Korean battery makers LG Chem and SK Innovation inch toward the deadline for a final ruling by the US International Trade Commission, scheduled for Dec. 10, rumors are swirling that the institution may delay the decision a third time, according to industry sources on Sunday. “There are multiple factors that make the rumors about a third delay plausible, such as the changing US administration and the continued spread of COVID-19,” an industry source told The Korea Herald.
Nov. 29, 2020
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Hyundai E&C offers premium apartment rent service
Hyundai Engineering & Construction will rent out new housing units in Bongdam in Hwaseong, Gyeonggi Province, starting in December. Hyundai E&C said Sunday the company’s rental housing units, named Hillstate Bongdam, will be an alternative for those who are reluctant to purchase apartments in the overheated housing market in Seoul and nearby areas. The Bongdam apartments are part of the government‘s rental housing policy devised to help people to lease apartment units on a
Nov. 29, 2020
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Over 30,000 teleconsulting sessions lead to $72 million deals: KOTRA
The state-run Korea Trade-Investment Promotion Agency said Sunday that it has conducted over 30,000 teleconsulting sessions to help connect local businesses and foreign buyers since the pandemic began earlier this year. With over 7,700 South Korean businesses and over 14,000 foreign buyers having taken advantage of KOTRA’s business consulting services, which began in February, a total of 446 business deals have been struck so far, worth 80.2 billion won ($72 million), KOTRA explained. Ea
Nov. 29, 2020
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Output of domestic alcohol down 10%, yet imports double in 5 yrs: data
Output of domestic alcoholic beverages decreased by over 10 percent over the past five years, but imports of alcohol nearly doubled during the same period, government data showed Sunday. The total production of alcoholic beverages made in the country came to 337 million kiloliters in 2019, down 11.3 percent from 390 million kiloliters in 2014, according to the data by the National Tax Service (NTS). In contrast, a total of 460,000 kiloliters of alcoholic beverages was imported last year, up 12
Nov. 29, 2020
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Hyundai, Kia fined for delaying US engine failure recalls
Hyundai and Kia must pay $137 million in fines and safety improvements because they moved too slowly to recall over 1 million vehicles with engines that can fail. The National Highway Traffic Safety Administration announced the penalties on Friday. They resolve a three-year government probe into the companies' behavior involving recalls of multiple models dating to the 2011 model year. "It's critical that manufacturers appropriately recognize the urgency of their safety recall responsibi
Nov. 28, 2020
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Renault Samsung to idle Busan factory for 4 days next month
Renault Samsung Motors, the South Korean unit of Renault SA, on Friday announced plans to halt operations at its Busan factory for four days next month. The automaker has suffered a sharp decline in sales this year due to a lack of new models and the COVID-19 pandemic. The company plans to suspend operations at its plant in the southeastern port city on Dec. 11, 23, 24 and 31. It will also continue to suspend overnight operations at the plant after having reduced operating hours starting Nov.
Nov. 27, 2020
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Ground broken for airport on Ulleung Island
The central and local governments on Friday began construction of a new airport at Ulleung Island off the eastern coast. Some 100 people, including officials from the transport ministry and local governments, attended a groundbreaking ceremony. The airport, to be completed by 2025, is projected to shorten the travel time between Seoul and Ulleung to one hour from the current seven hours. The airport is also expected to increase the number of visitors to the island to more than 1 million per y
Nov. 27, 2020
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Former Hyundai Motor chief discharged from hospital after 4 months, in ‘healthy condition’
Former Hyundai Motor Group Chairman Chung Mong-koo has been discharged from the hospital in healthy condition after about four months of treatment for colonic diverticulitis, according to industry sources Friday. The former chairman was discharged earlier Friday and is expected to stay at his home in Hannam-dong, central Seoul. Chung had been hospitalized for the chronic illness since mid-July. Though Chung was scheduled to be discharged as soon as his condition was brought under control,
Nov. 27, 2020
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Shinsegae launches online stores for Starfield
Shinsegae Property, the real estate development company owned by Shinsegae Group, announced Friday that the company has opened official online stores for its shopping mall brand Starfield on both the group and Naver‘s online shopping platforms. The online stores at Shinsegae‘s online shopping site SSG.com and Naver Shopping are opening with around 1,500 products from stores of 30 brands at offline Starfield malls, the company said. The firm had been testing online sales by provid
Nov. 27, 2020
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E-Land Group vows fight against hackers
E-Land Group Vice Chairman Choi Jong-yang of E-Land Group, which was recently hit with a ransomware attack, said Friday that the company will not surrender to the threats of the hackers. According to the South Korean fashion and retail conglomerate, Choi sent out an email to employees on Thursday in which he dismissed rumors that the hackers had acquired valuable corporate information. On Nov. 22, E-Land Group suspended operations at nearly half of its stores due to a ransomware attack. The
Nov. 27, 2020
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SK Telecom to merge security subsidiaries
SK Telecom Co., South Korea's top mobile carrier, said Friday it will merge its security subsidiaries by the end of the first quarter of next year, in its latest move to boost business synergy. SK Telecom said its subsidiary Life and Security Holdings, which wholly owns physical security firm ADT Caps Co., decided to merge with the carrier's digital security subsidiary SK infosec by the end of this year. SK infosec then plans to merge with ADT Caps by the first quarter of next year. The carri
Nov. 27, 2020
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News of potential deal with Tesla boosts Doosan Solus stocks
Doosan Solus stocks rose to 49,400 won ($44.70) on Friday, a 6.7 percent increase from a day prior, following a local news report that the company is in talks with Tesla to supply copper foil for electric vehicles in Europe. According to the news report, the material solutions unit of Doosan Group is expected to sign an agreement on general terms and conditions to provide copper foil for Tesla electric vehicles in Europe. The exact size and the length of the contract will be decided after th
Nov. 27, 2020